First they downgraded America. Now it is the turn of the eurozone. Standard & Poor’s is well aware of the weight financial markets attach to its pronouncements, and of late has developed the alarming habit of timing them to maximise their impact. Nicolas Sarkozy and Angela Merkel have issued a statement, noting curtly that they […]
Posts Tagged ‘Credit Rating’
Who the hell are Standard & Poors?
Aug 9th, 2011 by Mark Seddon.Amidst all of the market babble and financial gobbledegook that poured from both ‘analysts’ and ‘practitioners’ following last week’s global market meltdown, came a shaft of light. It took the form of a question and the question was posed by Robert Reich; “Pardon me”, he said “but who gave Standard & Poor’s the authority to […]
